Money Management I

______ refers to the processes of budgeting, saving, investing, spending or otherwise overseeing of all finances.

• Savings

• Money Management

• Banking

• Expenses

Poor money management can lead to cycles of debt and financial strain

• True

• False

How can you best manage your money? (select all that apply)

• Take inventory of your finances

• Only spend money on wants

• Build a money management blueprint

• Make the most of your savings

• Be persistent

When it comes to managing your finances, you should be honest about only your strengths and not your weaknesses.

• True

• False

_______ is a spending plan based on income and expenses.

• Budget

• Money Management

• Savings

• Investment

Tracking your expenses may inspire you to adjust your spending habits.

• True

• False

What are the three types of expenses?

• Fixed

• Federal

• Occasional

• Flexible

What are examples of fixed expenses? (select all that apply)

• Car Payments

• Rent/Mortgage

• Clothes

• Life Insurance

What are examples of flexible spending? (select all that apply)

• Dining out

• Telephone

• Utilities

• Clothing

What are examples of occasional expenses?

• Vacations

• Subscriptions

• Gifts

• Car maintenance